ACC- JOURNAL ENTRY
, Double Entry System
Business Transaction
Every -
2 Aspects
Dr. CV .
Luca pacioli
1494
Business
entity
concept
Ritik
Grocery store
> Here Ritik and
Groory store
of Ritik
reparte legal entity
-
are
,
Assets = Liabilities +
Capital
To paise Business he
owner ko wapas Karne
hai
#Source I
of funds Application of funds
:
-
Assets + Expense = Liabilities + Capital + Reverus
(Application of funds (source
of funds
D W
CV .
Modern Approach : -
Rutes ↑ LOSS /
↑ Income Grain
Assets & Expense =
Capital I Revenue I Liabilities
Increase Debit Gedit
Decreas Credit Debit
,Example :-
1. purchased Machinery from Jase > E20 , 000
-
V ~
Machinery Jassi
(Asset) chability)
Du . Cu .
.
2 Tina invested 100, 000 in the business
W V
Cash Tina's Alc
Capital
(Assets) ↑ (Capital Alc) ↑
DV .
CV .
.
3 Fina Withdrew E50, 000
from business
for personal use
can
2
Drawings/Tina's Capital Al
(Asset] ↓ Capital) to
CV -
Br .
.
4 Furniture purchased for Cash 10 , 000
W
furniture Cash
(Asset) +
(Asset)
DU .
CV .
.
5
Salary paid to Javi - > 10 , 000
~
W
Cash
salary
[Asset) ↓
(Expenses
Dr .
CV .
. Purchased
6
goods from Pinku -
>
E10 , 000
~ v
Purchases Pinku
(expenses 4 chability) T
DU .
Cr .
7. Rent paid to Jassi >
-
E 5000
~
-
Reut cash
(Expense) ↑ (Assets)
DU .
(U .
.
8 Pinku
Machinery purchased from -
> 100 000
,
Sno-1. "spaid in cash.
~ ~
S
Machine >
- 100, 000 cash Pinku
(Assets) ↑ (Assets)+ (Liability)↑
Dr . CV .
CV .
, Expense is a amount spend
that we get benifit
Traditional Approach : -
Accounts
W
Personal All ~
V -v Nominal Al
Natural
person Artificial Representative person All expenses/
Ritik (created Law Losses /
by Income I
Rosan V Revenue
>
-
Tina Clothing
Navee S K Real All
>
-
.
furniture W
Ex : -
others bunners All assets
yogi >
-
and
entity -
Peut,
salary ,
Interest
except those
classified under
personal Alc
W
When
group of person is represented by a account
Ex : -
Rams Sam Sunny
Debitors
condition of Representative person Al :
① there should be a
person [legal person or natural person]
[Artifical persons
② business
either person should be Anets (or) Liability for
, Double Entry System
Business Transaction
Every -
2 Aspects
Dr. CV .
Luca pacioli
1494
Business
entity
concept
Ritik
Grocery store
> Here Ritik and
Groory store
of Ritik
reparte legal entity
-
are
,
Assets = Liabilities +
Capital
To paise Business he
owner ko wapas Karne
hai
#Source I
of funds Application of funds
:
-
Assets + Expense = Liabilities + Capital + Reverus
(Application of funds (source
of funds
D W
CV .
Modern Approach : -
Rutes ↑ LOSS /
↑ Income Grain
Assets & Expense =
Capital I Revenue I Liabilities
Increase Debit Gedit
Decreas Credit Debit
,Example :-
1. purchased Machinery from Jase > E20 , 000
-
V ~
Machinery Jassi
(Asset) chability)
Du . Cu .
.
2 Tina invested 100, 000 in the business
W V
Cash Tina's Alc
Capital
(Assets) ↑ (Capital Alc) ↑
DV .
CV .
.
3 Fina Withdrew E50, 000
from business
for personal use
can
2
Drawings/Tina's Capital Al
(Asset] ↓ Capital) to
CV -
Br .
.
4 Furniture purchased for Cash 10 , 000
W
furniture Cash
(Asset) +
(Asset)
DU .
CV .
.
5
Salary paid to Javi - > 10 , 000
~
W
Cash
salary
[Asset) ↓
(Expenses
Dr .
CV .
. Purchased
6
goods from Pinku -
>
E10 , 000
~ v
Purchases Pinku
(expenses 4 chability) T
DU .
Cr .
7. Rent paid to Jassi >
-
E 5000
~
-
Reut cash
(Expense) ↑ (Assets)
DU .
(U .
.
8 Pinku
Machinery purchased from -
> 100 000
,
Sno-1. "spaid in cash.
~ ~
S
Machine >
- 100, 000 cash Pinku
(Assets) ↑ (Assets)+ (Liability)↑
Dr . CV .
CV .
, Expense is a amount spend
that we get benifit
Traditional Approach : -
Accounts
W
Personal All ~
V -v Nominal Al
Natural
person Artificial Representative person All expenses/
Ritik (created Law Losses /
by Income I
Rosan V Revenue
>
-
Tina Clothing
Navee S K Real All
>
-
.
furniture W
Ex : -
others bunners All assets
yogi >
-
and
entity -
Peut,
salary ,
Interest
except those
classified under
personal Alc
W
When
group of person is represented by a account
Ex : -
Rams Sam Sunny
Debitors
condition of Representative person Al :
① there should be a
person [legal person or natural person]
[Artifical persons
② business
either person should be Anets (or) Liability for
